Saitama founder Manpreet Kohli loses extradition case in UK

According to Reuters, Saitama founder Manpreet Kohli lost the extradition case in the UK and faces extradition to the United States for trial on charges of telecommunications fraud and market manipulation. Manpreet Kohli is accused of colluding with accomplices to falsely claim ownership and purchase of Saitama tokens, privately selling them for a profit of approximately $20 million. The token's market value once reached $7.5 billion. Judge Samuel Goozee rejected Manpreet Kohli's application against extradition, and the case has been referred to the UK Minister for decision. Manpreet Kohli is currently on bail of £ 200000 and can still appeal. A federal judge in Boston previously dismissed Manpreet Kohli's motion to withdraw the lawsuit on the grounds that Saitama tokens do not constitute securities.